New homes in Wandsworth
New homes in Wandsworth
Spotlight on Wandsworth
Elegant new developments are springing up all along its underused riverside, opening up parts of Wandsworth that were previously inaccessible. With lower prices than its wealthier neighbours to the west and the north, this well-situated borough could be the ideal place to invest in your next property.
The largest regeneration zone in central London
From Battersea Power Station up to Lambeth Bridge, covering an area bigger than Hyde Park, the £15bn revamp of the Nine Elms district takes regeneration to another level. Practically every major property developer in London has a stake here. Together, they are creating an anticipated 20,000 new homes and 25,000 jobs that will totally transform this largely industrial district into a stylish and vibrant new neighbourhood.
The key to this area’s revival came in 2012 when the US State Department announced they were to build their £620m new European HQ in Nine Elms. An unlikely choice, this was the clincher that unlocked funding for the new Northern line extension. Since then, the Dutch Embassy has also decided to relocate to Nine Elms and the Chinese government is considering the area. No doubt blue chip corporations will soon follow to this emerging ’embassy quarter’.
Battersea Power Station gets a glorious makeover
One of the Capital’s best-loved landmarks is being transformed in a £9bn development. When the project to renovate the decommissioned coal-fired power station completes, there will be over 4,000 stylish new homes, along with a new riverside park and roof-top gardens with stunning views over London. A high street of shops, restaurants and cafés, arts centres and hotels are also planned, as well as a much-needed Tube station.
The Grade II* listed former electricity generator will also incorporate over 1.25m sq ft of office space. In a massive coup for the developers, Apple is to create a spectacular new London headquarters inside the historic icon. Set to move in to their new ‘London campus’ by 2021, the iPhone maker will be the largest office tenant in the development, occupying all 6 floors of the central Boiler House.
Enviable transport connections – with more on the way
The borough is home to Clapham Junction, reportedly Europe’s busiest station in terms of through daily rail traffic. Trains from Clapham Junction can take just as little as seven minutes to Victoria and nine minutes to Waterloo. When Crossrail 2 arrives in 2030, journeys into central London will be even quicker.
Underground connections are also good. Residents on the western side of the Wandsworth are served by the District line and those on the eastern side have the Northern Line, which is soon to be extended. The two new stations, at Nine Elms and Battersea Power Station, are scheduled to be open by 2020.
On its riverside, the borough is well-served by the Thames Clipper river service. There’s a pier at Wandsworth Riverside Quarter, a newly-opened pier at PlantationWharf, and plans for an additional pier to serve Battersea Power Station. Wandsworth riverside is also home to the London Heliport, providing VIPs, celebrities and the business community with the ultimate in convenience.
Massive investment in Wandsworth town centre
With over £1bn of new investment flowing in, Wandsworth town centre is another key redevelopment area. The council and Transport for London are working to reduce through traffic in the town centre to give priority to buses, cyclists and local access. There are plans for 200 new homes, a better public library, new shops and more green spaces. Nearby, the former Young’s brewery is also being redeveloped into an exciting new residential and retail quarter with 650 new homes.
Home to some of London’s most popular places to live
A study by Lloyds TSB revealed that Wandsworth is the 2nd favourite place to live in England and Wales for aspiring young professionals. The Sunday Times has named Balham as one of the UK’s best places to live and Battersea as one of the best places for families. And when you look the figures, you can start to see why.
It’s the safest borough in inner London for recorded crime.92% of local schools are good or outstanding. Wandsworth has the second cheapest council tax in the whole country. There’s huge choice of local independent shops and cafes and a vibrant social scene. And with Wimbledon Common, Wandsworth Common, Putney Heath and the famous BatterseaPark, it’s a borough blessed with vast open spaces.
Current asking prices and rental yields
As of January 2017, the average value of properties in the borough of Wandsworth is £761,299. This has seen an increase of 2.31% in the last 12 months and 42.22% in the last five years. For a two-bedroom apartment, the average asking price is £893,201 and the average asking rent is £2,127pcm, which means the gross rental yield is currently 2.90%.
This content is correct as of January 2017